By Onyewuchi Ojinnaka
A Senior Advocate of Nigeria (SAN) and former President of the Nigerian Bar Association (NBA), Dr Olisa Agbakoba, has softpedaled on his stance for political restructuring of Nigeria, and rather made a case for Economic restructuring and ‘cooperative federalism.’
He said that only economic restructuring and cooperative federalism can sustain Nigeria’s indivisibility and economic growth.
In a press conference held at his Ikoyi office, the Senior Partner, Olisa Agbakoba Legal Development Law Practice Group, said that the clamour for political restructuring of this country should be suspended for now, adding that Nigeria has not yet advanced to that stage where it can be restructured without acrimony and ill feelings.
“The question of restructuring has pulled us back. All ethno-political agitations for restructuring should be suspended for now” he said.
Agbakoba held that from the body language of President Muhammadu Buhari, he does not believe in political restructuring, rather he is more concerned on the economic development of the country.
“Let us look for a new philosophy that can promote the economic growth of Nigeria and make Nigerians happy. Let us put restructuring on hold for now. Let the 36 governors pursue economic development of their states and cooperative federalism.”
The former NBA president advised that cooperative federalism should replace political restructuring until “we find our feet economically where states can explore and manage resources in their states and provide good environment for industrialization without running to Abuja to solicit for funds.”
Speaking on border closure, Agbakoba, a life bencher of the Body of Benchers, said that he is completely in support of the closure, disclosing that it has reduced inflow of smuggled foreign goods into Nigeria and has in effect increased the country’s revenue generation.
He, however, said that rather than extreme border closure, there should be strong border control by a stronger border force that can effectively manage our borders. He suggested that Immigration Services should give way to a stronger border force in Nigeria for effective border control.
On National Trade Policy, Agbakoba who championed legal reforms in Maritime Law and the Cabotage Act, said there is the need for a National Trade Policy which would stimulate local industry, grow export and reduce dumping of foreign goods in Nigeria.
Making reference to the Central Bank of Nigeria (CBN) vision and policy thrust for the next five years, which states that it will target unscrupulous individuals and businesses that embark on massive smuggling and dumping goods that can be produced in the country, thus leading to the demise of our agriculture and manufacturing sectors, the learned Silk said the policy needs to be supported.
“There is a need to strengthen the National Office of Trade Policy. This office has to be ministerial level. Trade laws have import substitution as their main goal. This means to reduce import and create local industries, he stressed.
Agbakoba believes that the National Assembly can pass legislation to establish the Trade Remedies Agency, devoted fully to fair trade issues.
“This will support our local industries around rice, maize, cassava, cotton, cocoa, tomato, oil palm, poultry, fish, and others. Trade policy on Fly Nigeria will grow Nigeria Airlines, a strong Cabotage Act will grow Shipping lines, Oil and Gas, Legal, Banking, Insurance, Shipping and so others.
“If trade legislation is favourable, trillions of Naira will flow into job creation in the millions,” he held.